Auction Property remodeled and rented

[Daryl Vines]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $46,000
Cash invested: $62,000

46k cash purchase at auction. 16k cash remodel
Rented for $1220

What made you interested in investing in this type of deal?

equity and cashflow

How did you find this deal and how did you negotiate it?

online auction

How did you finance this deal?

cash

How did you add value to the deal?

remodel

What was the outcome?

14% cash/cash before adding to commercial line to free up the cash again

Lessons learned? Challenges?

Screen contractors like you screen tenants.